Posted
by
timothy
on Saturday November 09, 2013 @06:11AM
from the non-denominational dept.

SonicSpike writes with this excerpt from Politico: "Political campaigns will be allowed to accept — but not spend — the digital currency Bitcoin, under a proposed federal rule released Thursday. The Federal Election Commission draft would require campaigns to first convert any Bitcoins collected as donation to dollars. According to the proposal, the currency will count as an 'in-kind' contribution to a campaign — like a stock or bond. The FEC will not consider them currency. Campaigns are permitted to accept non-monetary contributions like stocks, private stocks, commodities, and equipment— but must list their value in dollars on campaign finance reports. Attorneys for Conservative Action Fund PAC asked the agency in September to decide if and how political candidates and outside groups are allowed to use the digital currency, in addition to U.S. dollars. "